Finore Completion of Shares for Debt Settlement
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 09/27/13 -- Finore Mining Inc. (CNSX: FIN)(OTCQX: FNREF) ("Finore" or the "Company") announces that it has entered into a debt settlement agreement on September 18, 2013 (the "Debt Settlement Agreement") with Baron Global Financial Canada Ltd. ("Baron"), a company affiliated to a director of the Company to provide advisory services, pursuant to which the Company settled $50,000 of debt owed to Baron by the issuance of 2,500,000 common shares of the Company at a deemed price of $0.02 per share on September 27, 2013. The Company determined to satisfy its outstanding indebtedness with shares to preserve its cash for operations.
The Company is relying on the exemptions from the prospectus requirements found in section 2.14 of National Instrument 45-106 and applicable securities laws in Baron's jurisdiction of residence to issue the shares to Baron. The common shares issued to Baron are subject to a hold period in British Columbia expiring on January 28, 2014.
About Finore Mining Inc.
Finore is currently nearing the completion to acquire 100% interest in the LK Project through the acquisition of NorMinOy, a wholly-owned subsidiary of Nortec. Finore's goal is to define a large-tonnage PGE+Au-Cu-Ni deposit in Finland, thereby maximizing value on behalf of its shareholders.
On behalf of the board of directors of Finore Mining Inc.,
Peter Tegart, President & CEO
The CNSX does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Finore Mining Inc.
Peter Tegart
President & CEO
(604) 688-9588
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Datum: 27.09.2013 - 16:34 Uhr
Sprache: Deutsch
News-ID 300950
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Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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